No concrete evidence that inflation has peaked: CLSA

Here are experts equity calls for the day on how the markets are expected to trade:

Chris Wood, CLSA: The Indian stock market has underperformed this year as it has discounted Asia's most aggressive monetary tightening cycle. There is still no concrete evidence that inflation has peaked, though the RBI has, for now at least, gone on hold. Inflationary pressures have proved much more intense in this cycle than the predictions by the Central Bank or economists.

Parul Saini, RBS: September earnings growth of 11% was just below our muted expectation for the coverage universe excluding OMCs. However, FY12 and FY13 estimates were cut by 2% respectively, and we think there could be further downside risks to FY13 estimates.